An Index Reshuffle Could Rip the FANGs Out of Your ETFs
- S&P, MSCI plan sector redo affecting tech, consumer stocks
- Internet, media, telecom to be combined into communications
This article is for subscribers only.
Watch out, FANG lovers. Some of your favorite stocks are poised to be recategorized, potentially removing them from exchange-traded funds that have held them for years.
S&P Global Inc. and MSCI Inc., two of the world’s biggest index providers, plan to overhaul their industry classifications, merging some internet and media stocks with phone companies into a group called “communication services.” It would replace the existing telecommunication sector.